On the Nature of Wealth and the Wealth of Nature

By |2019-03-07T11:20:58-05:00March 23rd, 2018|

More than just the ultimate inflation hedge, the wealth of Nature—gold, forests, land, agriculture—and the cautious stewardship of these tangible assets over easily-inflated government “IOU’s” is what distinguishes wealth from riches… When King Louis XII, in the year 1499, formed the project of taking the Dukedom of Milan, to which he thought he had a [...]

Mesmerizing the Masses with Gold

By |2015-07-09T11:51:18-05:00July 8th, 2015|

One of the most famous speeches in American political history was delivered by William Jennings Bryan on July 9, 1896, at the Democratic National Convention in Chicago. His subject was the free coinage of silver at a ratio of silver to gold of 16 to 1. (This inflationary measure would have increased the amount [...]

On A Gold Roll

By |2015-01-02T04:42:19-05:00January 1st, 2015|

Former Federal Reserve Chair Alan Greenspan is on a gold roll. In September, Greenspan published a thought piece in Foreign Affairs musing on the indubitable monetary qualities of gold. “If, in the words of British economist John Maynard Keynes, gold were a ‘barbarous relic,’” Greenspan wrote, “central bankers around the world would not have [...]

Houston, Texas: The Golden City

By |2014-09-25T15:16:26-05:00September 25th, 2014|

Houston, Texas sure is entering a golden era. It seems that everyone is moving to the town (the nation’s fourth biggest) these days. The largest construction project in the nation is just north of the city, a campus for Exxon Mobil. Houses are getting thrown up like suburbanization is some new fad. Maserati cars [...]

The Gold Standard: A Barbarous Relic?

By |2019-03-05T13:30:37-05:00September 18th, 2014|

One of the main reasons that detractors of the gold standard contend it is a “barbarous relic” (in John Maynard Keynes’s phrase) is that it was implicated in so many financial panics and economic busts back in its heyday in the 19th century. As the New York Times’ pet Internet troll once put it, sarcastically, “under the [...]

The Weak Dollar Is Getting Caught in a Currency War Pincer

By |2016-07-12T15:36:54-05:00March 6th, 2013|

The dollar—that thing the Federal Reserve has been printing like mad the last few years—is in one of the worst spells in its history, short, medium, and long-term. Against the world’s major currencies, the dollar’s rate of exchange is down 5% since the Great Recession started, 32% from the 2001 peak, and 15% from [...]

The First Gold Commission Scared the Dickens Out of the Fed

By |2014-01-13T15:41:50-05:00September 21st, 2012|

Paul Volcker The Republicans have put some serious oomph in their presidential campaign over the last month. First Mitt Romney picked Rep. Paul Ryan as his running mate, a move which not only fired-up a very good portion of the electorate, but by all accounts lifted Romney’s own spirits on the trail. Now the [...]

Romney’s 400 Economists Made One Big Whiff

By |2014-01-24T10:05:38-05:00September 14th, 2012|

Mitt Romney A group of top economists, among them any number of Nobel laureates, signed a letter endorsing Republican presidential candidate Mitt Romney’s economic plan. These economists indicated that as president, Romney would do six salutary things. Romney would reduce taxes, control spending, limit and improve regulation, make social security and Medicare [...]

The Claims Against Gold Still Aren’t Sticking

By |2014-03-07T11:19:00-05:00July 1st, 2012|

I’ve seen the gold standard blamed for a lot of things in my day—the busts of the 19th century, the travails of the farmer back when, the Great Depression—but I’d never thought I’d see the blame for the serial economic crises we’re enduring today, in 2012, hung on the gold standard. After all, isn’t [...]